Home News FG, investment coy sign MoU on industrial park in Niger Delta

FG, investment coy sign MoU on industrial park in Niger Delta

by Business News Report

The Ministry of Niger Delta Affairs has signed an agreement with an investment company, Ostim Organised Industrial Region, on the establishment of an organised industrial park in the Niger Delta area. A statement by the Deputy Director (Press) of the ministry, Mr Fidelis Osammor, on Thursday in Abuja said that the Minister of Niger Delta Affairs, Mr Godsday Orubebe, signed the MoU on behalf of the Federal Government.
It said that Mr Orhan Aydin, the Chairman of Ostim Organised Industrial Region, signed the agreement on behalf of his organisation. The statement said that the industrial park would foster a rapid socio-economic transformation of the region.
“In order to achieve the objectives of the MoU, the two parties have agreed to form two main committees. The committees will ensure the effectiveness and coordination of the project, while drawing up strategic plans for implementation. The MoU provides that the ministry shall be responsible for financing the project, while Ostim will provide support on investment,’’ it said. The statement said that Ostim was expected to use its capabilities, strength and institutional powers to get financial support for the project from international financial institutions. “The industrial park project is targeted at providing employment opportunities for unemployed youths and it will greatly boost the region’s economy. The Akwa Ibom State Government has signified its interest to collaborate with the ministry in the project implementation processes,’’ the statement said.

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